BSFIs urged to ensure InstaPay, PESONet availability to clients

By Joann Villanueva

April 4, 2023, 8:48 pm

MANILA – The Bangko Sentral ng Pilipinas (BSP) on Tuesday reminded all its supervised financial institutions (BSFIs) to make available PESONet and InstaPay services and ensure the accessibility of customer support during the holidays.

In a memorandum, BSP Deputy Governor Mamerto Tangonan said BSFIs participating in the automated clearing houses can provide hotlines and other support services to promptly and effectively provide assistance to their clients.

PESONet is a batch electronic fund transfer service that cater to check-related and recurring payment while InstaPay is a real time and low-value payment service.

In a statement, the BSP said the memorandum was made “in anticipation of the public’s continued use of digital payments over the holidays and long weekends.”

“This is in line with the central bank’s broader efforts to promote financial consumer welfare,” it said.

April 6 is Maundy Thursday, April 7 is Good Friday and April 10 (Monday) is a non-working holiday for the celebration of Araw ng Kagitingan (Day of Valor). (PNA)